But the social media post, an advertisement for a relatively minor cryptocurrency called "Ethereum Max", still qualified as potentially the biggest financial promotion in history. A timely post from a social media icon is a well-trodden route to standing out among the thousands of cryptocurrencies, often thinly traded and volatile in price. A Facebook spokesperson said it had invested heavily in tackling financial scams and introduced strict controls around cryptocurrency adverts. The two had used their widely-followed social media accounts to advertise the initial coin offering of Centra Tech, a company that ultimately raised more than $25m. He says Facebook and Instagram have strict controls on cryptocurrency trading firms, but influencers such as Kardashian can post with few consequences.

Source: New Zealand Herald September 08, 2021 02:03 UTC